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I have been subcontracting to a bookkeeping practice to gain experience and at the same time trying to build my own accountancy practice (I am a qualified accountant). I have now been asked to go into partnership with the bookkeeping practice. They are a well established practice in the area with many clients focussed on bookkeeping and payroll services. They are hoping that together we can grow the practice. They will be able to offer an added layer of services with my skills and I also have the skills to move businesses over to cloud accounting. Should I go into this rather than continue to build my own practice? Does anyone have experience of partnership arrangements they could share?

Yes but.....with MTD snapping at our heels, bookkeeping's going to be more "in demand" and many clients won't want anything more. It may be lower-paid but might become a case of better than nothing. As long as your value is reflected in the Partnership % might be worth considering?

Interesting question, It really depends on what they are offering and if this is the direction you want to be taking. But don't sell yourself short, 50/50 partnership - make good money from whatever you do!

You can have a more formal and documented relationship without merging, such as an exclusive referrals agreement or acting as a consultant to their firm - they can put your name on their letterhead/promo material for kudos. You get the plusses without the minuses.

You want to avoid being responsible for their earnings and disputes on how to cut the cake.